cancel
Showing results for 
Search instead for 
Did you mean: 

Starting to rebuild

tag
CreditGame12
Contributor

Re: Starting to rebuild

I would go for both. Get your unsecured first! Just my honest opinion. But, I would do both in the same day. Remember, Cap1 will triple pull. Let us know what you do! 

Message 11 of 17
Shooting-For-800
Senior Contributor

Re: Starting to rebuild

Check for prequal cards from Cap One, Discover, and Merrick.

Solid prequals and non pred banks.

Maybe 1 secured card from a good back if no prequals.

I would only appy to 1 or 2 store cards that you will use often and offer great rewards.

I would not apply for more than 3 cards every 6 months.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 12 of 17
Anonymous
Not applicable

Re: Starting to rebuild

Thanks again for all of the great discussion.  Today I applied and was approved for both:

 

Cap1 Platinum - $3000 CL

Discover IT Secured - $300 deposit

***and learned how to add them to signature!*** 

 

I plan on never letting either card get above 10% utlization each statement, and of course PIF.  Should I make payments before statements post so some statements show a $0 balance?  The "BK7 to 700 in 24 months"  guide discusses this but I have heard mixed reviews.

 

I do frequently shop on Amazon and Lowe's so would love to eventually apply for 1 of these cards, should I wait 5+ months before looking for a 3rd card?

Message 13 of 17
CreditGame12
Contributor

Re: Starting to rebuild

Wow! Congrats on the SL of your unsecured Cap1 card! I'm unsure of what to say for your 3rd card. I'm assuming you could apply for a 3rd to let them all age together, but I'm not sure how bk friendly they are. Best of luck! 

Message 14 of 17
DollyLama
Established Contributor

Re: Starting to rebuild

I prefer bank cards instead of store cards. Lowes gives more generous starting line of credit than Home Depot. I think Lowes like a score of mid 600s before they approve you. 

 

Have you received your FICO scores yet post BK? 

 

Amazon, I'm not sure about BK friendly, 5% rewards, but Discover throughout the year by quarters has a 5% category, Amazon will be from Oct, Nov and December.  Then it will change Jan-Mar, etc. 

 

IMHO, I'd apply only within this month, and garden (meaning no new apps) for a year to let the inquiries age off and let the age of youngest account hit the year mark -all at the same time. You will receive your best bump on any youngest card crossing that age threshold. 

 

Congrats on the 2 cards so far! 

Message 15 of 17
Anonymous
Not applicable

Re: Starting to rebuild

Thanks guys!!

 

CreditWise, through the Cap1 app, is showing a score of 657 but I understand that this is the TransUnion Vantage score instead of a true FICO score.  I plan on pulling my free CR in a few weeks once I'm 1 month post-discharge.  I'll then try to clear up my credit report.

 

Do you think the Lowe's card is still a possibility given my recent discharge and mid-600s score? I understand the importance of opening all accounts in the same month.

Message 16 of 17
CreditGame12
Contributor

Re: Starting to rebuild

You can pull your FICO from creditchecktotal.com for all 3 without dinging your credit. It's a $1 trial and you can cancel within the website before the 7 days to avoid the $30 monthly charge. FICO scores are usually different (up or down) from your Vantage score from CK.
Message 17 of 17
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.